VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Thursday, January 8, 2026

Stock Comparison

VINCI SA vs Novartis AG

Compare moat strength, market structure, and segment coverage to understand how each company defends its edge.

VINCI SA

DG · Euronext Paris

Market cap (USD)$67.5B
Gross margin (TTM)16%
Operating margin (TTM)12.1%
Net margin (TTM)6.5%
SectorIndustrials
IndustryEngineering & Construction
CountryFR
Data as of2026-01-03
Moat score
57/ 100

Weighted average of segment moat scores, combining moat strength, durability, confidence, market structure, pricing power, and market share.

Full stock profile

Dive deeper into VINCI SA's moat claims, evidence, and risks.

View DG analysis

Novartis AG

NOVN · SIX Swiss Exchange

Market cap (USD)$210.7B
Gross margin (TTM)76.2%
Operating margin (TTM)31.2%
Net margin (TTM)25.5%
SectorHealthcare
IndustryDrug Manufacturers - General
CountryCH
Data as of2026-01-02
Moat score
65/ 100

Weighted average of segment moat scores, combining moat strength, durability, confidence, market structure, pricing power, and market share.

Full stock profile

Dive deeper into Novartis AG's moat claims, evidence, and risks.

View NOVN analysis

Comparison highlights

  • Moat score gap: Novartis AG leads (65 / 100 vs 57 / 100 for VINCI SA).
  • Segment focus: VINCI SA has 7 segments (44.4% in VINCI Construction); Novartis AG has 5 segments (29.3% in Oncology).
  • Primary market structure: Competitive vs Oligopoly. Pricing power: Weak vs Strong.
  • Moat breadth: VINCI SA has 7 moat types across 2 domains; Novartis AG has 4 across 3.

Primary market context

VINCI SA

VINCI Construction

Market

Construction and civil engineering contracting (buildings, infrastructure and specialty networks)

Geography

Global

Customer

Public-sector project owners and private developers/industrial clients

Role

General contractor / civil engineering contractor

Revenue share

44.4%

Novartis AG

Oncology

Market

Oncology and hematology branded medicines (including targeted therapies and radioligand therapy)

Geography

Global

Customer

Oncologists and hospitals; reimbursed by payers; hospital and specialty pharmacy channels

Role

Originator developer, manufacturer, and marketer of oncology therapies

Revenue share

29.3%

Side-by-side metrics

VINCI SA
Novartis AG
Ticker / Exchange
DG - Euronext Paris
NOVN - SIX Swiss Exchange
Market cap (USD)
$67.5B
$210.7B
Gross margin (TTM)
16%
76.2%
Operating margin (TTM)
12.1%
31.2%
Net margin (TTM)
6.5%
25.5%
Sector
Industrials
Healthcare
Industry
Engineering & Construction
Drug Manufacturers - General
HQ country
FR
CH
Primary segment
VINCI Construction
Oncology
Market structure
Competitive
Oligopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Weak
Strong
Moat score
57 / 100
65 / 100
Moat domains
Legal, Supply
Legal, Supply, Demand
Last update
2026-01-03
2026-01-02

Moat coverage

Shared moat types

Capex Knowhow Scale

VINCI SA strengths

Concession LicensePermits Rights Of WayOperational ExcellenceService Field NetworkCapacity MoatCompliance Advantage

Novartis AG strengths

IP Choke PointRegulated Standards PipeBrand Trust

Segment mix

VINCI SA segments

Full profile >

VINCI Autoroutes

Monopoly

9.2%

VINCI Airports

Oligopoly

6.3%

Other concessions (incl. VINCI Highways and PPP assets)

Competitive

0.8%

VINCI Energies

Competitive

28.4%

Cobra IS

Competitive

9.9%

VINCI Construction

Competitive

44.4%

VINCI Immobilier

Competitive

1.6%

Novartis AG segments

Full profile >

Cardiovascular, Renal and Metabolic

Oligopoly

17%

Immunology

Oligopoly

18.5%

Neuroscience

Oligopoly

9.4%

Oncology

Oligopoly

29.3%

Established Brands

Competitive

25.8%

Want the full wide moat stocks list?

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Curation & Accuracy

This directory blends AI‑assisted discovery with human curation. Entries are reviewed, edited, and organized with the goal of expanding coverage and sharpening quality over time. Your feedback helps steer improvements (because no single human can capture everything all at once).

Details change. Pricing, features, and availability may be incomplete or out of date. Treat listings as a starting point and verify on the provider’s site before making decisions. If you spot an error or a gap, send a quick note and I’ll adjust.